Chapter 05 · Architecture
Business Model
How the firm creates value, captures a share of it, and compounds it across cycles.
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§ 05.01
Value created
[Placeholder] What the firm delivers, to whom, and how it is measured by the receiver — not by us.
§ 05.02
Value captured
[Placeholder] How the firm is paid, in what form, on what cadence.
Compensation should be proportional to outcome, asymmetric in our favor when we are right.
§ 05.03
Defensibility
[Placeholder] The structural reasons this model is hard to copy and harder to displace.
§ 05.04
Unit economics
[Placeholder] Per-engagement and per-relationship math. The numbers that matter when capital is tight.
Appendix
Supporting material
Awaiting population